JPMorgan Chase & Co New Research Highlights Strategies to Increase Inclusion of Women and Minority Entrepreneurs in High-Tech...
May 23 2016 - 7:00AM
UK Regulatory
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A new research report by JPMorgan Chase & Co. and the
Initiative for a Competitive Inner City (ICIC) finds that women and
minorities are significantly underrepresented in high-tech
incubators and accelerators, but uncovers many examples of
incubators and accelerators that have been successful in attracting
more diverse entrepreneurs. The report, Creating Inclusive
High-Tech Incubators and Accelerators: Strategies to Increase
Participation Rates of Women and Minority Entrepreneurs, was
announced by JPMorgan Chase and ICIC on Monday in a session at
Detroit Startup Week.
"Research has shown that diversity is an asset to high growth
companies, but far too few women and entrepreneurs of color are
participating in the successful, high-tech incubators that launch
such enterprises," said Janis Bowdler, Managing Director, JPMorgan
Chase Global Philanthropy. "This report provides a playbook to
connect more women and minority entrepreneurs with the critical
tools and resources needed to scale companies, leading to more
inclusive and equitable economic growth."
Interviews with over 75 industry experts and an exhaustive
review of research informed the study, which found that women and
minority entrepreneurs face significant barriers gaining access to
high-tech incubators and accelerators. Intentional exclusivity and
a lack of outreach are the strongest barriers to diversity.
Inherent biases in the selection process and "one-size-fits-all"
program design also create barriers.
"Increasing participation of women and minorities in high-tech
incubators and accelerators is definitely feasible, and we have
identified several effective strategies that are already being used
by some leading organizations," said Kimberly Zeuli, ICIC's
Director of Research and lead author of the report. Diverse
leadership teams and intentional outreach to women and minority
owned businesses are two key factors that foster more diversity in
incubators and accelerators. More needs to be done to make sure
that all incubators and accelerators are intentionally supporting
diverse entrepreneurs."
The full report can be found online at http://icic.org.
Media Contacts:
Liz Holden
eholden@icic.org
617.238.3010
or
Alexis Martin
alexis.a.martin@chase.com
215.864.5715
View source version on businesswire.com:
http://www.businesswire.com/news/home/20160523005733/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
May 23, 2016 08:00 ET (12:00 GMT)
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